Don't get your hopes up. There's trillions of barrels of oil resource in the Green River formation (Wyoming, etc)--more than the reserves of the rest of the world combined. It's very unconventional (oil shale/kerogen), but I've seen some estimates that say it's no more expensive to extract than tar sands oil (once you start developing the resource).

We're going to have to do this the hard way, as the other poster mentioned. Decide to keep it in the ground.

If it's "no more expensive to extract" (and process, transport, refine...), why hasn't anyone bothered yet ?

Because there's a large capital (and learning curve) upstart requirement. It's almost like you missed this: "(once you start developing the resource)"

Additionally, tar sands are very marginal economically. Arguably not profitable right now. Fracking tight oil is cheaper, and even that is not being pursued as vigorously as it was when oil prices were higher.

And there are environmental regulations that get in the way of oil shale/kerogen extraction. And for good reason.

That was true too for Oil Sands and Tight Oil. (Heck, any oil play needs capex, starting from the first drilled ones!) And yet we are... P.S.: But we basically seem to agree, so this is nitpicking on my part...

Global peak was scheduled for the mid 70s in the original 1956 paper. USA peak was set for 1970, which actually happened even if it was a false peak.

Have we read the same paper ? It was clearly forecasted for the turn of the century...